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Creative Thinking And Problem Solving workforce

University: The London College

  • Unit No: 7
  • Level: Undergraduate/College
  • Pages: 12 / Words 2955
  • Paper Type: Assignment
  • Course Code:
  • Downloads: 2310
Question :

It is important for businesses to have a workforce with a creative mind so that complexities can be decreased. Reflection is the assertion of self-experience so that people can learn from their experience.

  • Reflect and evaluate the management and personal decision together with their outcome.
  • Application of creative thinking and the techniques of problem-solving in order to make decisions of business in changing environment.
Answer :

INTRODUCTION

Creative thinking is very essential for running a successful business. It facilitates lessening the complexities related to various commercial activities. It provides an easy problem-solving approach for several issues which can affect the trade of an organization. It is very important to follow a creative approach to provide many strategies for expanding the business and making it more profitable (Miletzki and Broten, 2017). The following report consists of the reflection of several cases related to creative thinking, problem-solving, and marketing strategies of various companies as well as individuals who are known to be successful in their particular fields.

CASE 1

Strategy and Success of Lady Gaga

The following case study discusses the creative thinking which is adopted by Lady Gaga to achieve success in the entertainment industry. I have learned that there are many marketing tactics which an individual can apply to succeed in a particular market. Some of them which I have analysed are provided below:

Branding- She developed herself as a brand by building up a persona which included multifaceted and multimedia which was supported by many features such as music, her visual appearance, different social attitudes, newsworthy events, personality and communicated values. The most influential are theatricality and visual impact. Her outfits focus on new standards of innovation and eccentricity.

Use of Social Media- She has a strong social media presence which includes building up of business model that recognises digital world Entertainment. A huge fan following on various social media accounts provides her with an opportunity to grab a larger audience that provides effective recognition around the world.

Relationship building - She has developed her market by building relationships with her fans in a unique way (Ersoy, 2014). There is good communication between them as she has conveyed her various emotions and experiences of life which has led them to connect with her as an individual which provides a stage for building up of effective relationship.

These strategies were effective in order to build up a strong market for Lady Gaga which has made her a huge success in the entertainment industry. Her unique selling proportion was the individuality and difference which she used to highlight herself from other available competitors. Apart from this, she has made her connect with the audience directly which has developed a connection to which every fan can relate with.

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CASE 2

Strategy and Success of Jeff Bezos and Amazon

I acknowledged that Jeff Bezos as a successful entrepreneur made Amazon a leading online retail store by adopting various strategies that resulted in desirable outcomes by effective problem-solving methods. Some of the strategies which he implemented to make his business expand at a massive rate are:

Focus On Growth- It is the primary objective as growth is essential for every business in order to succeed. They formulated various strategies which were in favour of customer while neglecting their own profitability. This feature provided them an opportunity to increase their ale and attract more customers.

Customer-Centric Approach- He focused on all the strategies which can provide benefit their customer such as free delivery of the product and their availability at a cheaper cost compared to the prices at other stores. There was availability of every type of product at one destination which provided them an advantage over others.

Diversification- It is the essence of a business to make it succeed by diversifying the product portfolio. They diversified in the business of DVDs and CDs and expanded their trade in the UK as well as Germany. Apart from this, Amazon offered a vast range of products that converted its identity from a technological platform to an online retailer.

CASE 3

Sony's Battle for Video Game Supremacy

In the following case, I have acknowledged that strategies are very essential for making any business to be successful as they can lead to provide various opportunities to sustain the market from competitors. However, a lack of strategies can result in potential harm which can be regarded as a big disadvantage for the company and can lead to financial loss (Perry and Karpova, 2017). To support all strategies, I am required to develop certain tactics which will provide success to them by accomplishing all success. There were many threats to Sony in the gaming industry as rivals were strongly prepared to provide competition to their new product which was PSP 3. Competitors were already prepared to compete with Sony as Microsoft launched the Xbox 360 which was a great hit and sold 4 million products. Apart from this, Sony was known to be in an intense war with TOSHIBA company which tied up with Microsoft for gaining various opportunities which can be beneficial for their business. It was a learning for Sony that despite having many strengths there is a need to analyse all potential threats which can affect the business in many ways. The present market is very dynamic and there are various features which affect the behaviour of customers which lead to changes in their preferences accordingly.

CASE 4

PESTEL critical analysis on the Estate Agency

I have acknowledged that there are certain external forces that affect business activities in several ways. For analysis of external force PESTEL Analysis can be conducted which is given below :

Political- Political stability of the area where the organization is operating is very essential as it leads to support the expansion of business which results in its growth. The political environment is in favour of estate agencies as the government facilitates them due to the increase in demand for houses.

Economical-There are various negative aspects of economic factors which are influencing Estate agencies in a negative manner as there is a decrease in mortgage rates that leads to a slump in the housing market.

Social- This factor is positively affecting the business as due to the increase in the trend of individual living the demand for housing is increasing which is benefiting every estate agency (Rothaermel, 2015).

Technological- There are many technological factors that are affecting it in a negative way as due to the internet there can be direct deals between seller and buyer without any third person which is leading to loss to Estate Agencies.

Environmental- Housing markets are most likely to be affected by environmental aspects such as the location of a particular house, climatic conditions, source of transport etc.

Legal- It is supporting estate agencies as there are various ways which are encourage house marketing and the direct involvement of buyers and sellers which can harm them in various ways.

CASE 5

Porter's Five Forces

Porter's Five Forces is known to be an external analysis of five forces that affect the business of Estate Agencies in many ways-

Bargaining Power of Buyers- It is regarded as a high threat. For estate agencies customers have high bargaining power as there are many agencies that provide similar services and apart from this, there can be direct sales which tends to maximise their power as there is no cost associated with it.

Bargaining Power of Suppliers- It is a low threat as these services do not require much supply services apart from these there is a huge availability of other suppliers who are ready to provide the same services.

Threat of New Entrants- It can be considered a high threat because there are various other new agencies that are entering in-house marketing with various new options for customers and innovative ways of serving with advanced technologies.

Threat of New Substitutes- It is also a high threat because all other agencies are providing similar kinds of services (Ginter, Duncan and Swayne, 2018). Therefore, customers can avail of any of the agencies for a new house.

Presence of Competitors- It is also a high threat because there are other agencies which are already established and have a trust of huge customer base. Therefore, competition is very high and strong strategies are required from various agencies in the house marketing industry for better survival.

CASE 6

Steve Jobs and his Traits

Steve Jobs was the founder of Apple and was a successful entrepreneur who had some traits which led to him being more innovative and creative in producing highly featured electronic devices of the century. Some of them which I analysed were :

Passionate- He was very passionate as he focused on producing something very different in the field of technology and continuously worked on that and apart from this improving it in order to satisfy the needs of customers.

Determined- Produce something innovative it is required to face failures and making it learning instead of demotivation is what makes him a determined person. For success, it is very important for a person to consistently work on the conception and rectify every weakness effectively.

Innovative- He always focused on inventing something innovative which can lessen human efforts and provide them more ease for a particular purpose (Greiff and et.al., 2014). Therefore, he invented cellular phones which have the latest technologies and provided a world-class service to them.

Opportunist- He was known to be an opportunity grabber as with globalisation there was an increase in the demand for innovative products which he considered as an opportunity and

worked upon it and produced such product which can satisfy those particular needs and acquire the market effectively.

CASE 7

Marketing Strategies for Airline Companies

I have acknowledged several marketing strategies of different airlines which have been provided below:

Easy Jet is known as a cost leader as it focuses on the cost leadership strategy in marketing which has made it survive in the market effectively as it provides a low pricing strategy which is dynamic in nature as it changes with respect to the demand of particular flights. It focuses on the lower-class customers to whom they provide basic services. There is a concept of direct sales which saves the cost related to the commission. They provide access through their app which leads to attracting customers because services are easy to access.

Apart from this, there is another airline company British Airways which promotes its brand through print media as well as broadcasting advertisements on television (Ersoy, 2014). They have developed their global image through ethnic paintings in their plain. It tends to target every customer from various status levels to develop a large customer market.

Qatar Airways is another leading airline that has a huge number of spacecraft. It conducts its promotion by running articles which attract large target users. They have special luxury services such a travel accompanied by limousine. They are attracting customers through their highly privileged service for all business class travellers with their comfort cabins.

CASE 8

Reflection on innovation case: TESLA Motors

From the above case scenario, It was clearly analysed that the business operations of TESLA Motors are based on continuous innovation of existing products and services. The company has achieved growth and recognition in the market after innovating its products such as Cars and other commercial vehicles. In the mid-June of 2014. The company has released all his its patent holdings, claiming that open source innovation is also more powerful. The radical approach towards innovation runs deep as evidenced in the technology and design approach of the organization's Flagship model, its $69,900 luxury car (Kucel and et. al., 2016). However, there are some technical differences that have also been faced by the organization while working with Teardown which is an IHS technological team. Innovation designs and unique technical features have been included by the organization in its vehicles. Some manufacturing differences have been analysed which has provided them support in innovating products and services. Further, I have also analysed that the company has applied a Silicon Valley culture and EMS approach to manufacturing which has provided a clear advantage for the completion of models.

In addition to this, differences in development services have provided them with support in making their products more reliable and accurate in the market. The EMS innovation models stated that the company have achieved competencies to sustain in the market through the accomplishment of the needs and requirements of its target customers towards products and services.

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CASE 9

Reflection on Case Study

From the above case scenario, it is analysed that Netflix Inc. is an American over-the-top media services provider, which is headquartered in Los Gatos. It is also considered an international service provider that keeps on adding members, but rising costs and risks bring new challenges. However, the torrid growth story has brought various new problems as the streamline companies faced eager in order to knock it off its perch (Schuhmacher, Kuester and Hultink, 2018). At present, the company is alone at the top of the streamlined world especially if the person peers over the cliff and sees the hordes of rivals clambering up to take their spot. The company has faced issues in the regulation of business and adding more members due to its continuous rise in cost and innovation of various important business opportunities and regulations. Moreover, higher costs have been justified because the company has been growing quickly too, with customers up in 25 per cent in the past year and almost doubling after 2012. The realities of Netflix's costly business model are finally catching up to the organization. Advancements in technologies have also provided support to organizations in innovation applications and other technological services which they provide to their customers. Another important driver factor in the move rental industry is low costs. American households spend on Average, nearly five hours per day watching video content. There are various innovative business responsibilities have been accomplished by organizations for completion of various roles and responsibilities at the workplace. To resolve issues, the company have hired various important content that need to be completion of research in an appropriate manner. Technological factors is analysed as the largest factor that affects a company's position towards the completion of the research.

CASE 10

Critical Research on Northern General Transport Company

The scenario provides a clear understanding that the company originated in the early 1900s when Gateshead and District tramways asked permission to extend their Tramway, which is finished at a low feel to Chester-Le-Street. Parliament denied this, so the directors have also decided to set up a motor bus operation instead. Recently the company has faced a decline in sales and loss of market share in their long-distance business and they also need to identify ways to improve their market position.

Ineffective marketing strategies of the organization were the major issues behind their decline in sales and market share. Along with this, the company has not applied any innovation in service to sustain itself in the market. The services provided by the organization are not fulfilling the requirements of its customers (Allen and et.al.,2015). However, low rates of investment in business have also restricted organizations from innovating their operations in the market. For improvement of position and increase in market share, the company needs to improve its customer services among long-distance passengers, developing a marketing slogan that helps in increasing its promotions among its customers. Further, the company also needs to improve the relationship between managers and subordinates at the workplace which helps them completion of research in an appropriate manner. However, the organization also needs to find ways to attain competitive advantage such as adopting a cost leadership strategy in which the company provide quality services at low prices to attain competitors' position in the transportation industry.

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REFERENCES

  • Allen, M.T. And et.al.,2015. Effects of real estate Brokers' Marketing strategies: Public open houses, broker open houses, MLS virtual tours, and MLS photographs. Journal of Real Estate Research. 37(3). pp.343-369.
  • Ersoy, E., 2014. The effects of problem-based learning method in higher education on creative thinking. Procedia-Social and Behavioral Sciences. 116. pp.3494-3498.
  • Ginter, P. M., Duncan, W. J. and Swayne, L. E., 2018. The strategic management of health care organizations. John Wiley & Sons.
  • Greiff, S. and et.al., 2014. Domain-general problem-solving skills and education in the 21st century. Educational Research Review. (13). pp.74-83.
  • Kucel, A. and et. al., 2016. Entrepreneurial Skills and EducationJob Matching of Higher Education Graduates. European Journal of Education. 51(1). pp.73-89.
  • Miletzki, J. and Broten, N., 2017. Development as freedom. Macat Library.
  • Perry, A. and Karpova, E., 2017. Efficacy of teaching creative thinking skills: A comparison of multiple creativity assessments. Thinking Skills and Creativity. 24. pp.118-126.
  • Rothaermel, F. T., 2015. Strategic management. McGraw-Hill Education.
  • Schuhmacher, M. C., Kuester, S. and Hultink, E. J., 2018. Appetizer or Main Course: Early Market vs. Majority Market Market Strategies for Radical Innovations. Journal of product innovation management. 35(1). pp.106-124.
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